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Gold, silver jump over 2% as Iran-US tensions rattle global marketsGold and silver rose over 2% as US-Israel strikes on Iran spurred safe-haven demand.By Anshul  March 2, 2026, 7:34:08 AM IST (Published)2 Min ReadGold and silver prices climbed more than 2% on Monday (March 2) as escalating tensions between the United States and Iran rattled global financial markets and drove investors toward safe-haven assets.

The price of gold rose 2.3% to 5,380.60 an ounce, while silver gained 2.1% an ounce in early trade, tracking a broader shift into defensive assets after US and Israeli strikes on Iran heightened geopolitical risks in the Middle East.

Global equities opened lower, with Japan’s Nikkei 225 falling 2.4% and US stock futures sliding over 1%. At the same time, crude oil prices surged sharply amid concerns over supply disruptions in the region.

Analysts said the renewed conflict has raised fears of disruptions to oil shipments through the Strait of Hormuz, a critical energy transit route. Roughly one-fifth of global oil and LNG flows pass through the narrow waterway, amplifying concerns over global supply.

Ross Maxwell, Global Strategy Operations Lead at VT Markets, said safe-haven demand is currently outweighing the typical inverse relationship between the US dollar and precious metals.

“Gold and silver are moving higher despite a firm USD because safe-haven demand is currently outweighing the normal relationship. When investors become concerned about geopolitical risk, trade disruptions, or slowing global growth, they prioritise capital preservation,” he said.

Maxwell added that while gold is benefiting from defensive allocations, silver’s sharper move reflects its higher volatility and dual role as both a safe-haven asset and an industrial commodity.

Energy markets remain at the centre of investor concerns. Traders are betting that supply from Iran and other parts of the Middle East could slow if hostilities persist. Iran exports roughly 1.6 million barrels of oil per day, largely to China, and any disruption could tighten global supply further.

Prashant Mishra, Founder and CEO of Agnam Advisors, said sustained higher oil prices could have macroeconomic implications for India.

“For India, which remains a large energy importer, prolonged higher oil prices can widen the current account deficit, put pressure on inflation, and influence currency stability,” Mishra said.

He added that oil marketing companies, aviation, logistics and chemical sectors may face near-term cost pressures, while upstream energy and select commodity producers could benefit from higher prices. Equity markets typically witness short-term volatility during geopolitical events, though long-term trends remain anchored to domestic growth fundamentals.

-With Reuters inputsContinue ReadingNote To ReadersDisclaimer: This article is for informational purposes only and should not be construed as investment advice. Readers should consult certified experts before making any investment decisions.TagsgoldGold Pricesgold ratessilversilver prices